Depending on what you read [1] cronolog is a decent way of doing things (e.g. unlike logrotate it doesn't require a reload of web server). Without exporting to something like ELK, it also gives you a decent audit/accountancy trail. Limiting logs is not something I can really do in production (think six-years-plus of mandated data retention).

[1] https://startpage.com/do/search?q=cronolog+vs+logrotate